LINE="lbla bla bla jcjfd<text>what i want</text>flh%(j blablabla<text>second occurence</text>juhgfiuhf<text>third occ</text>jkhgq"
I=1
LINE=${LINE#*<text>}	# Removes all from the begining up to the first "<text>"
LINE=${LINE%</text>*}	# Removes all from the end down to the last "</text>"
while echo $LINE | grep -q "<text>"	# more than one field
do	TEXT[$I]=${LINE%%</text>*}
	LINE=${LINE#*<text>}
	(( I ++ ))
done
TEXT[$I]=${LINE%</text>*}	# for the last one
{	# To see what we've done
	N=$I
	for I in $(seq $N)
	do	echo "TEXT[$I] = ${TEXT[$I]}"
	done
}

let I=I+1

# in place of
for I in $(seq $N)
# write
for (i = 1; i < N+1; i++)